As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Seventy Seven Energy (NYSE:SSE), a filing with the SEC revealed that on Friday, CFO and Treasurer Cary D. Baetz purchased 4,300 shares of SSE, at a cost of $23.50 each, for a total investment of $101,050. So far Baetz is in the green, up about 4.3% on their buy based on today's trading high of $24.50. Seventy Seven Energy is trading up about 1.5% on the day Wednesday. Before this latest buy, Baetz made one other purchase in the past twelve months, buying $9,563 shares for a cost of $22.24 a piece.
And also on Friday, President and CEO Charles W. Berger purchased $53,297 worth of Extreme Networks (NASDAQ:EXTR), purchasing 10,000 shares at a cost of $5.33 each. Extreme Networks is trading up about 2.5% on the day Wednesday. Berger was up about 3.0% on the buy at the high point of today's trading session, with EXTR trading as high as $5.49 in trading on Wednesday.
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